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Articles from MacroBusiness

Macro Morning

January 25, 2019 - 09:30 -- Admin

By Chris Becker  A somewhat mixed night on equity markets with most of the action again in currencies as Mario Draghi pulled the rug out from under the Euro on his “downside risk” comments, as speculation continues to mount about the outcome of the US/China trade talks. The continued Trump government shutdown is not helping

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Credit Suisse: Prepare for another 0.5% of bank mortgage hikes

January 25, 2019 - 09:30 -- Admin

From Damien Boey at Credit Suisse Yesterday, NAB announced a 12bps increase on owner-occupier conventional mortgages, and a 16bps increase on interest-only investor mortgages. In the round of out-of-cycle rate hikes last year, NAB was the odd one out, choosing not to hike with its competitors. Therefore, today’s hike brings NAB more in line with

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Desperate Morrison amps negative gearing rent lies

January 25, 2019 - 09:00 -- Admin

By Leith van Onselen Bereft of policy and facing electoral annihilation, Prime Minister Scott Morrison has resorted to spewing more rent lies about Labor’s negative gearing policy. From The Courier Mail: “The house you own will be worth less and the rent you pay will be more (and) Labor just doesn’t understand this,” he said.

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Foreign buyers flee Australian housing

January 25, 2019 - 08:13 -- Admin

NAB has released its Q4 property survey, which confirms that foreign buyers continue to flee Australian property, exacerbating the downturn: The boom in Australian real estate sales to foreign investors has clearly run its course, with NAB’s latest survey results highlighting a trend decline in foreign buying activity over the course of 2018. In Q4,

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Daily iron ore price update (no ships for Oz)

January 25, 2019 - 07:30 -- Admin

by Chris Becker Spot and future prices lifted for iron ore yesterday, while rebar had the biggest gains as volume starts to simmer down leading into the Chinese new year: Meanwhile, BHP and Bluescope are blaming “high labour costs” in their bid to stop using Australian cargo ships to transport iron ore. More from AFR:

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Credit Suisse: Sydney house prices to fall 9% in 2019

January 25, 2019 - 00:20 -- Admin

From Damien Boey at Credit Suisse We have just published an article about the outlook for Sydney housing, now that prices have dropped around 15% from their late 2017 peak, and are falling at their fastest pace in several decades. We take note of a few positives: 1). There are tentative signs that Chinese demand is

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AFG joins investor mortgage smash

January 25, 2019 - 00:15 -- Admin

By Leith van Onselen Australian Finance Group (AFG) has released its housing finance data for the December quarter, which registered a heavy quarterly decline in the number of mortgage applications, with applications also crashing over the year. The number of mortgage applications fell by 8.3% over the December quarter and was down by 13.9% over

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CoreLogic weekly Australian house price update: crashing

January 25, 2019 - 00:10 -- Admin

By Leith van Onselen In the week ended 24 January 2019, the CoreLogic 5-city daily dwelling price index, which covers the five major capital city markets, tanked another 0.27%: Values fell across four markets: The quarterly decline has steepened to 3.21%, with Sydney, Melbourne and Perth suffering heavy losses: Over the past 12 months, home values

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MB Fund Podcast – Stocks vs. Bonds

January 25, 2019 - 00:09 -- Admin

This week’s LIVE webinar explores the prospects for global shares over the next 12 months Join MB Fund’s Head of Investments Damien Klassen and Tim Fuller as we look at: – The showdown between stocks and bonds, which will be the best performer in 2019? – What has been happening behind the scenes with MB

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Youth labour market remains way oversupplied

January 25, 2019 - 00:08 -- Admin

By Leith van Onselen Yesterday’s ABS labour force release for December revealed a softening Australian youth labour market – i.e. those aged 15 to 24 years old – with both full-time and part-time jobs growth weakening. That said, trend headline unemployment rate remained dead flat in December at 11.3%: Total employment growth for those aged

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